"By harnessing the greed and corruption of the Trump family and its cronies, as well as many Democrats, the #cryptoIndustry has assembled a juggernaut of power that aims to revolutionize the financial system to place #crypto and their businesses at the center of #finance, not just in the United States but throughout the globe. The most immediate economic risk of this is the prospect of a crypto-induced financial crisis..."

https://www.bostonreview.net/articles/the-crypto-chokehold/
#cryptoLobby #USpol #economy #financialBubbles

Just sayin'...
But I know: This time is different, of course

#DeepSeek #markets #financialbubbles #AI

Elizabeth Warren’s Moment (Again)

Today on TAP: Nobody understands or explains the corruption of the financial system better than the Massachusetts senator.

The American Prospect
Pluralistic: The AI hype bubble is the new crypto hype bubble (09 Mar 2023) – Pluralistic: Daily links from Cory Doctorow

"Let it be emphasized once more, and especially to anyone inclined to a personally rewarding skepticism in these matters: for practical purposes, the financial memory should be assumed to last, at a maximum, no more than 20 years. This is normally the time it takes for the recollection of one disaster to be erased and for some variant on previous dementia to come forward to capture the financial mind. It is also the time generally required for a new generation to enter the scene, impressed, as had been its predecessors, with its own innovative genius." J. K. Galbraith
#Economics #FinancialBubbles #TheFollyOfCrowds